{"id":19906,"date":"2024-12-26T10:04:26","date_gmt":"2024-12-26T08:04:26","guid":{"rendered":"https:\/\/forklog.com\/en\/japan-expresses-doubts-over-bitcoin-reserve-proposal\/"},"modified":"2024-12-26T10:04:26","modified_gmt":"2024-12-26T08:04:26","slug":"japan-expresses-doubts-over-bitcoin-reserve-proposal","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/japan-expresses-doubts-over-bitcoin-reserve-proposal\/","title":{"rendered":"Japan Expresses Doubts Over Bitcoin Reserve Proposal"},"content":{"rendered":"<p>The Japanese government has clarified its stance on the possibility of holding the leading cryptocurrency as a reserve asset, as reported by <a href=\"https:\/\/coinpost.jp\/?p=583833\">Coinspot<\/a>.<\/p>\n<p>On December 11, Satoshi Hamada, a member of the House of Councillors from the <span data-descr=\"right-wing and populist party established in 2013\" class=\"old_tooltip\">Party to Protect the People from NHK<\/span>, submitted a query to the cabinet.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I think Japan should follow the example of the United States and consider converting part of its foreign reserves into crypto assets like Bitcoin,&#8221; the parliamentarian stated.<\/p>\n<\/blockquote>\n<p>In a response on behalf of Prime Minister Shigeru Ishiba, the government noted that it lacks a clear understanding of the actions of the United States in this regard, as discussions are still ongoing.<\/p>\n<p>According to Japan&#8217;s regulatory framework, current reserves are composed of foreign currencies, and crypto assets do not fall into this category, the authorities pointed out.<\/p>\n<p>The response also emphasized that the management of special accounts prioritizes the safety and liquidity of reserves. Officials indicated that Bitcoin&#8217;s volatility is incompatible with the existing system.<\/p>\n<p>Earlier in the United States, Federal Reserve Chairman <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Jerome Powell<\/span> expressed opposition to President-elect Donald Trump&#8217;s initiative to create a national reserve of the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese government has clarified its stance on the possibility of holding the leading cryptocurrency as a reserve asset, as reported by Coinspot. On December 11, Satoshi Hamada, a member of the House of Councillors from the Party to Protect the People from NHK, submitted a query to the cabinet. &#8220;I think Japan should follow [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,135],"class_list":["post-19906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-japan"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19906"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19905"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}